New Delhi: Putting the ambitious Mumbai-Ahemedabad rail cooridor on fast track, the Railways will now constitute a project steering group to examine various options available for executing the ambitious project.

The Prime Minister`s Office (PMO) today announced a roadmap for implementation of flagship infrastructure projects which include high speed corridors, elevated rail corridor for suburban Mumbai section and redevelopment of stations among others.

The high speed rail corridor project between Mumbai and Ahmedabad and other six routes is technologically the most advanced railway project. Pre-feasibility study has been conducted by RITES in association with other expert consultants.

There are various alternative options for implementing the high speed corridor project available but out of all the options, only the SPV or the PPP options seem to be viable, said a senior Railway Ministry official.

According to the decision, the project steering group will be consisting of Chairman Railway Board as Chairman, and Secretary (DEA), Secretary (Planning), Member (Mechanical), Member (Engineering) and Member (Electrical) as members.

The steering group will examine the options available for implementing this project and finalising feasible options, suggesting ways of strengthening the capacity of railways to design and execute high speed train projects and suggest mechanisms for quickly moving forward on chosen options.

The Elevated Rail Corridor in Mumbai, the other key infrastructure project of railways, also got the nod from PMO.

The technical feasibility study has already been conducted for the elevated rail corridor and a Draft State Support Agreement has been agreed between the Maharashtra and Railway Ministry.

According to the official, the project will be implemented in PPP mode and a concessionaire shall be finalised by March 15, 2013.

Railways will constitute a Project Steering Group consisting Chairman Railway Board Secretary (DEA), Secretary (Planning), Chief Secretary of Maharashtra, Member (Engineering) and General Manager, Western Railways as members to monitor the implementation of the project including finalizing the documentation, overseeing the bidding process, and awarding the contract in timely manner.

Railways will constitute Indian Railway Station Development Corporation (IRSDC) for the redevelopment of stations.

"Five stations have already been shortlisted for redevelopment. The Model Concession Agreement (MCA) document prepared by Planning Commission will be used as a base document for the projects," the official said.